KARACHI: Pakistan State Oil (PSO), the nation’s leading energy company, successfully convened its 48th Annual General Meeting (AGM) in Karachi, chaired by Chairman, Board of Management, PSO – Asif Baigmohamed. Managing Director and CEO, PSO - Syed Taha, other board members, and senior management were also present.
PSO reinforced its market leadership, achieving impressive financial results for FY24. The company posted gross revenue of Rs 3.8 trillion, with a profit after tax of Rs 15.9 billion, translating to earnings per share of Rs 33.79. A dividend of Rs 10 per share, equivalent to 100 percent for FY23-24, was declared.
The management briefed shareholders on vertical expansion initiatives through CERISMA (Private) Limited and PSO Renewable Energy. CERISMA, PSO’s fintech arm, drives nationwide financial inclusion through accessible digital services, expanding its reach to e-commerce and international payments.
Meanwhile, PSO Renewable Energy focuses on solar capacity expansion, bolstering profitability, creating new revenue streams, and contributing to Pakistan’s renewable energy growth.
Shareholders praised PSO’s consistent performance, strategic focus on innovation through vertical expansion, financial empowerment, and reinforced leadership in Pakistan’s energy landscape.
Copyright Business Recorder, 2024
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